GAIL India declined 1.84% to Rs 362.50 at 15:21 IST on BSE even as the company posted 30.89% increase in net profit to Rs 896.87 crore in Q1 June 2008 over Q1 June 2007.
The company announced the results during trading hours today, 29 July 2008.
The stock hit a high of Rs 377.70 and a low of Rs 360.05 so far during the day. The stock had a 52-week high of Rs 555 on 1 January 2008 and a 52-week low of Rs 285 on 22 August 2007.
From a recent low of Rs 333.80 on 16 July 2008, the stock rose 10.64% to Rs 369.30 on 28 July 2008. The stock had surged 3% to Rs 375.60 on 23 July 2008 as the market surged on that day after the government on 22 July 2008 won trust vote in parliament. The stock gained 0.72% to Rs 369.30 on 28 July 2008 ahead of the Q1 results.
The company has an equity capital of Rs 845.65 crore. Face value per share is Rs 10.
The current price of Rs 362.50 discounts its Q4 March 2008 annualised EPS of Rs 34.17, by a PE multiple of 10.61.
GAIL India reported 34.78% rise in total income to Rs 5845.4 crore in Q1 June 2008 over Q1 June 2007.
On 24 June 2008, GAIL India's board recommended issue of bonus shares in the ratio of one equity share for every two shares held.
On 9 June 2008, GAIL India signed a gas co-operation agreement with Tamil Nadu Industrial Development Corporation to conduct preliminary techno-economic feasibility study for gas demand in Tamil Nadu.
In April 2008, the company signed contracts for marketing the entire volume of gas produced from the Panna-Mukta and Tapti fields.
The company distributes natural gas and processes petrochemicals
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